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Joe Tompkins from Lendesk Venmo introduces the smart document feature in their mortgage application process. With this feature, clients can easily understand what documents are needed based on their responses to questions. Clients receive an invite to start their application, create an account, and see pre-filled steps to complete. They can review, edit, and add information such as living history, borrowers, employment, income, and assets. This streamlines the document collection process for a smoother application experience.